From Investing to Mining

A cryptocurrency Investing Journey

The idea of investing in cryptocurrency is very polarizing, either investor are all in or have total fear of this. Though this has been around since 2009 with the founding of Bitcoin it is now become popular with celebrities and influencers encouraging people to invest in Bitcoin, Dogecoin and others. What does it really take to be successful in investing in Crypto? Is it blockchain technology, mining, or both?  

Erica Ervin a Crypto investor since 2013 shares her experience in the beginning stages of investing and the journey to mining her own coin this winter. When asked how she learned about Crypto investing “I first time I ever even heard of Crypto was in 2013 when Bitcoin hit a $1,000. I was like oh my gosh I really missed the boat I’ve never heard of this before.”

This did not come with its share of setbacks as she details pulling her Bitcoin investment early on and losing out on profits.

“I was like this is going to make me a ton of money. I made one investment of $25 in 2013 and when I didn’t see it growing as fast as I was hoping it would I gave up…I really struggled with that in 2020 especially when it got big.”

At the beginning of July 2021, Sen. Elizabeth Warren publicly issued her concerns about Cryptocurrency calling the growing risks for the investors and the financial markets calling it “highly opaque and volatile” according to

Sen Warren called for the SEC (Securities Exchange Commission) and the Chair Gary Gensler to protect those investing in Cryptocurrencies and that Congress needs to take further as well and wanted answers by July 28th, 2021. It has not been reported that Gensler or the SEC has responded to Sen. Warren’s requests, but she is continuing to call out the risk for investors and the financial markets.

There has also been an environmental concern over mining coins as well. On Jul 6th, 2021 reported that residents in Seneca, NY complained about the water temperature of their lake since a Bitcoin farm has been operating near the lake since 2019.

“I don’t think there should be farms that are producing as much CO2 as small countries…”

-Erica Ervin

When asked about the environmental concerns Ervin stated the following, “Environmental regulations as far as mining I don’t have a problem with that. I don’t think there should be farms that are producing as much CO2 as small countries…If anything, give people tax credits that they use over time with their earnings. I think that would make a lot more sense and get more people into it and make it a lot greener.” 

When asked about the plans for mining Ervin stated the following, “I want to wait until winter because of the heat that it produces…and use the heat for my house.”

When asked out to get started in mining, “It’s really simple to get started. You need dedicated hardware, join a mining pool, and let your hardware do the work for you.”

She also does not suggest staking which is taking a bet on a coin with the belief that it would do better. One of the acting investors take with staking is borrowing coins within a network at a lower interest rate and paying the amount back with the earnings. “The market is crazy right now you never know what it’s going to do.”

She does have high hopes for mining and investing in the future, “I see the potential for new currencies that are not Dink Doink and I think it has a good future… a very fruitful future but there are a lot of people who are going behave like I did in 2013.”

“People should invest a little bit do their research it’s learning and it is kind of fun.”

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